论坛风格切换切换到宽版
  • 2526阅读
  • 1回复

[专业英语]2008财务成本管理英语加试题答案 [复制链接]

上一主题 下一主题
离线connie
 

发帖
1196
学分
2168
经验
15
精华
7355
金币
0
只看楼主 倒序阅读 使用道具 0楼 发表于: 2009-02-13
— 本帖被 阿文哥 从 注会英语 移动到本区(2012-07-02) —
六、英语附加题(本题型共2题,每题5分,共10分。要求用英文解答,列出计算步骤,每步骤运算得数精确到小数点后两位。在答题卷上解答,答案写在试题卷上无效。) F;q I^{m2  
1、In 2007,M Corporation paid dividends totaling $3 million on net income of $15 million.2007 was a normal year, and for the past five years, earnings have grown at a constant rate of 10 percent. However,earnings are expected to jump to $18 million in 2008,and the firm expects to have $12 million investment opportunities in 2009.It is predicted that M will not be able to maintain the 2008 level of earnings growth in the future----the high 2008 earnings level is attributable to an exceptionally profitable new product line introduced in that year----and the company will return to its previous 10 percent growth rate. M’s target debt ratio is 40 percent in 2007, which will be continued in the future. kf"cd 1  
Calculate M’s expected dividends for 2008 if it follows each of the following policies: 1grrb&K  
A. Its 2008 dividend payment is set to make dividends grow at the long-run growth rate in earnings. Y 3KCIL9  
B. It continues the 2007 dividend payout ratio. d9Rj-e1x  
C. It uses a residual policy with all distributions in the form of dividends. / d6mlQS  
D. It employs a regular-dividend-plus-extras policy, with the regular dividend being based on the long-run growth rate and the extra dividend being set according to the residual policy(Indicate the regular dividend and the extra dividend separately). ) 3Y E$,  
[&FMVM`  
k(VA5upC s  
ZV;#ZXch  
答案在楼下
评价一下你浏览此帖子的感受

精彩

感动

搞笑

开心

愤怒

无聊

灌水
离线connie

发帖
1196
学分
2168
经验
15
精华
7355
金币
0
只看该作者 1楼 发表于: 2009-02-13
Answer: w #1l)+  
&+*jTE  
A: long-run growth rate t[a n,3  
3*(1+10%) =3.3 million "2=v?,'t  
#;^.&2Lt  
B: target payout ratio Q>Q$BCD5  
Target payout ratio=3/15=20% .[O*bk  
Dividend of 2008=18*2%=3.6 million =AR'Pad  
'M G)noN5  
C: residual dividend approach 4H1s"mP<  
Retained earnings=total new investment*(1-debt ratio) XM8C{I1  
                 =12*(1-40%) im1]:kr7  
                 =7.2 million pV>/ "K  
Residual dividend=18-7.2=10.8 million pu`|HaQaE  
"t\rjFw  
D: regular-dividend-plus-extra dividend approach (according to the residual policy) 6o,, w^  
Regular dividend=3*(1+10%) =3.3 million U'lrdc"Q  
Extra dividend=residual dividend –regular dividend U15Hq*8Z  
              =10.8-3.3 C(?lp   
              =7.5 million b5H[~8mf  
/wvA] ooT  
YR[Ii?  
2. N Company manufactures a kind of product used throughout the machinery industry. The standard price of the materials for the products is $6 per kilogram; the standard quantity of materials allowed per unit is 1.5 kilograms. During July, 2,000 units of the products were finished, for which 3,200 kilograms of materials were used at a total direct material cost of $18.560. R8HA X  
A. Calculate the direct material price variance for July. Indicate whether it is favorable  (F) or unfavorable (U) and who is generally responsible for this variance. p]pFZ";70  
B. Calculate the direct material quantity variance for July. Indicate whether it is favorable (F) or unfavorable (U) and who is generally responsible for this variance. 1>|p1YZ"  
C. Calculate the total direct material cost variance for July. Indicate whether it is favorable (F) or unfavorable (U). Wxp^*._q3I  
<cWo]T`X!  
Answer: dd$\Q  
Notes: O gycP4z[  
Actual price=18560/3200=$5.8/unit #Q|$&b  
Actual quantity materials per unit=3200/2000=1.6 kg/unit (>)Y0ki}  
h! )(R<  
1).Standard quantity * standard price=standard total cost kv5D =0r  
(1.5*2000)      *   6        =$18000 N 8mK^{  
2). (Actual quantity-standard quantity) * Standard price= Efficiency variance of direct materials AY *  
(3200-3000)                *  6         =$1200 :Eob"WH  
3)Actual quantity * (actual price- standard price)= Price variance of direct materials VDQ&Bm JE  
3200         * (5.8 – 6)                    =$640 kuUH 2:L  
4)actual quantity *actual price =actual total cost [x)BQX'  
3200        * 5.8       =$18560 I#9K/[  
8K1+ttjm  
s'5 jvlG  
A:Price variance of direct materials=(actual price-standard price)*actual quantity $]%k <|X  
                             = (5.8-6)*3200 w|$;$a7)  
                             = $640  【F】 eL-92]]e  
Price variance of $640 【F】 due to the actual price of $5.8 per kg being fewer than the standard $6 per kg. *!nS4 [d  
3HfT9  
B:Efficiency variance of direct materials= (actual quantity-standard quantity)*standard price Q>z0?%B  
                                  = (3200-3000)*6 sQt@B#;  
                                  =$1200   【U】 dn5T7a~   
d5u ,x.R  
Efficiency variance of $1200 【U】 due to the higher quantity of materials per unit of 1.6 kg/unit than the standard level of 1.5 kg/unit. ^(6.P)$  
T`vj6F  
P3N f<  
C:Total variance of direct materials=actual costs- standard cost tU?lfU[7  
                              =18560-18000 } RM?gE  
                              =560  【U】
快速回复
限100 字节
温馨提示:欢迎交流讨论,请勿纯表情!
 
上一个 下一个